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View all search resultsOrix to buy stake in Mongolian company
Japan-based financial services company Orix Corp
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J
apan-based financial services company Orix Corp. said on Monday that it would acquire about 16 percent of stake in TenGer Financial Group (TGF), a major financial services holding company in Mongolia, in June.
Orix aims to use TGF's base to offer financial services in the fast-growing Asian country. Established in 2001, TGF offers banking, leasing, insurance and investment banking services, ORIX said in a statement made available to thejakartapost.com on Monday.
TGF's Xac Bank is Mongolia's fourth largest commercial bank in terms of assets.
Under the capital participation, Orix envisions to explore new investment opportunities in Mongolia. It also considers the possibility of expanding into new businesses, ranging from card loans and internet banking, according to ORIX's statement.
